Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 9,507, 3,453 total housing units (homes and apartments), and a median house value of $409,636, Belmont real estate is some of the most expensive in Michigan, although Belmont home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Belmont, accounting for 98.19% of the town's housing units.
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Belmont. Owner-occupied housing accounts for 95.89% of Belmont's homes, and 83.78% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Belmont built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Belmont built between 2000 and later ( 19.39%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.42%). There's also some housing in Belmont built before 1939 ( 9.92%).
In the last 10 years, Belmont has experienced some of the highest home appreciation rates of any community in the nation. Belmont real estate appreciated 116.87% over the last ten years, which is an average annual home appreciation rate of 8.05%, putting Belmont in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Belmont definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Belmont that despite a nationwide downturn in the housing market, Belmont real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Belmont appreciation rates continue to be some of the highest in America, at 6.66%, which is higher than appreciation rates in 70.33% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Belmont. Belmont appreciation rates in the latest quarter were at -1.60%, which equates to an annual appreciation rate of -6.24%.
Notably, Belmont's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Michigan, our data show that Belmont's latest annual appreciation rate is lower than 50% of the other cities and towns in Michigan.
$409,636
for Michigan
for nation
3,453
$1,698 / per month